REVENUE ENTRY AND DISTRIBUTION
Oil & Gas Business Solutions
accounting software and backoffice services are 100 percent Internet-enabled so that you select
the right level of involvement and control to customize a partnership with
our professional team.
REVENUE (CHECKSTUB) DATA ENTRY
- Ability to perform high volume of manual entry and electronic
processing
- Support multiple electronic sources (Oildex, PDS, direct from
the purchaser, other)
- Standardized set of quality assurance processes to test prices,
date ranges, interest and other factors to ensure the accuracy and
validaty of all check stub detail
- SAS70 certified processes for revenue recognition
services
- Maintain interest paid, well detail, purchaser well numbers and owners numbers
- Record deposits and reconcile/balance revenue received,
taxes and other paid vs distribution
- Customized processes to delineate key attributes for property taxes, state withholding and other charges and deductions that can have key tax implications for your
properties
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REVENUE DISTRIBUTION & REPORTING
- Volume printing, stuffing, mailing with ACH and Positive Pay capabilities
- Variety of owner/partner relations web sites available
- Lockbox and deposit support with all distributions balanced to deposits
- Reporting by well and owner by product and interest type: gross,
volumes, net, tax, deductions
- Generate and distribute annual 1099's and/or K1's for tax reporting
- Custom reporting options supporting a full general ledger, variety of well operating statements and customized Excel extracts for owners share and well
totals
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REVENUE OWNER, WELL, DOI, SUSPENSE MAINTENANCE
- Perform owner and DOI maintnenance per agreed upon change
request process
- Perform suspense maintenance, re-distribution, and check
void/re-issues as warranted
- Perform annual 'flush' of suspense for minimum payments and
escheating reporting/payments
- Ability to perform owner relations services with
dedicated web site and 800 phone service
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